Tax Calendar

If I need a loan, instead of going and gathering new paperwork every time, I’ve given them full authority to look into our account... That’s helped a lot for speed and efficiency on our end.

“We also really enjoy working with Elizabeth Waldschmidt,” Steve said. “She always answers the phone, and she does a great job.” Elizabeth Waldschmidt is a senior tax accountant at GreenStone who brought 20 years of experience with her when she transitioned into Mark’s role after he took a new position with GreenStone several years ago. She’s been working with the Rhodas since her first day of work. “We do a little bit of everything for the Rhodas – we do their payroll taxes, accounting, tax planning, and tax returns. It’s a neat operation, with two brothers farming together, and it’s fun to see them work together. They’ve made a very successful business for themselves.” Not only does she like doing business with them, but she likes to see their working relationship. “They each have their own land, own seed, chemicals, equipment – it’s not a partnership, they’re just individual farmers that never argue over who owes each other,” she said. “At the end of the year they just say, we’ll figure it out.” As the Rhodas concentrate on their farm, GreenStone is equipped to do the behind-the-scenes financial work. “If there was ever a time I hated on the farm, it was when I had just spent seven days a week doing seed corn, and it was December,” Larry said. “Instead of taking some time off, I would have to dig through paperwork for year-end financial information. Now, it’s just as nice as can be – I push a button and everything is done.” ■

➡ The Rhodas are wrapping up tax season with the help of their

Greenstone tax accountant,

Elizabeth Waldschmidt.

Tax Calendar...

APRIL

18 Individuals file a 2021 income tax return (Form 1040) and pay any tax due. If not able to file, file form 4868 to request an automatic 6-month extension. If tax is due it must be paid with the Form 4868.

1st quarter estimate is due for 2022 for individuals that pay estimated taxes.

Corporations file a 2021 calendar year tax return (Form 1120) and pay any tax due. If not able to file, file Form 7004 to request an automatic 6-month extension.

Corporations deposit the 1st installment of estimated income tax for 2022.

MAY

2

Non-farm employers file Form 941 for the 1st quarter to report Social Security, Medicare, and withholding.

2nd quarter estimate is due for 2022 for individuals that pay estimated taxes.

Corporations deposit the 2nd installment of estimated income tax for 2022.

Non-farm employers file Form 941 for the 2nd quarter to report Social Security, Medicare, and withholding.

Form 5500 is due for all employers that maintain an employee benefit plan such as a pension plan.

If not able to file, file form 5588 to request an automatic 2.5 month extension.

JUNE

15

AUGUST